Willingness to Pay for the Protection of Different Data Types

Abstract

The standard approach of Notice and Choice does not provide sufficient control over personal privacy preferences. A more granular analysis of privacy preferences is needed where the monetary valuation of different data types can contribute to the understanding of individual privacy concerns of personal information. The question of how much consumers value their privacy is still underexplored. Therefore, this study examines previous approaches of monetary valuation of different data types and analyses the monetary valuation for two different countries to verify earlier research results.